Your Bourse launches Coverage Plugin for MT5
The Coverage Plugin offers a versatile solution for traders seeking effective risk management and trading strategies on the MT5 platform.
Your Bourse, the provider of software solutions for both retail and institutional MT4/MT5 brokers, has announced the launch of the Coverage Plugin for MT5.
In the world of financial trading, having the right tools can make all the difference. The Coverage Plugin for MT5 by Your Bourse is one such tool that brings a plethora of features and capabilities to the trading platform.
While its primary function is to accumulate position volumes from the trading account on the same MT5 server, it offers so much more. In this article, we will delve into the features and setup process of the Coverage Plugin and explore various scenarios where it can be effectively utilized.
A versatile tool that serves multiple functions
The Coverage Plugin in MT5 is a versatile tool that serves multiple functions. Here’s a breakdown of its key capabilities:
Volume Hedging: This feature allows traders to hedge the volume of lots from trading accounts to coverage accounts. It enables the accumulation of lots from one trading account to another, whether they are on the same or different servers.
Symbol Mappings: Symbol mapping is a powerful capability that lets traders translate mapped symbols to core symbols or other mapped symbols. For instance, it enables the transfer of volumes from EURUSD.m on the trading account to EURUSD in the coverage account.
Exposure Auto Hedging: With this functionality, traders can fully or partially hedge exposure from B-book to A-book. It also provides the flexibility to set up a specific volume step increment.
Conditional Hedging: Under certain predefined conditions, such as when the order volume on the B-book exceeds a specified threshold, custom volume increments can be directed to the A-book coverage account.
How to use Coverage Plugin’s auto hedging functionality
The Coverage Plugin’s auto hedging functionality can be applied in various scenarios to meet diverse trading needs. Here are some examples:
Common Coverage Scenario: In this scenario, trades opened or closed in one account will be mirrored in the coverage accounts. This functionality can be easily enabled via the MT5 Administrator.
Mapping Symbols Scenario: This scenario involves the transfer of orders from mapped symbols in the trading account to core symbols or other mapped symbols on the coverage account. Configuring this is straightforward from the YourBourse portal, ensuring that corresponding orders are executed in the coverage account when trades occur in the trading account.
Unconditional Hedging Scenario: In this scenario, orders placed in the B-book trading account are transferred to the B-book coverage account. An increment value can be configured to be added automatically to the A-book coverage account for each volume traded in the B-book account.
Conditional Hedging Scenario: Orders placed in the B-book are transferred to the B-book coverage account, and based on specified conditions, a customized increment value is added to the A-book coverage account. This transfer occurs only when the order volume exceeds a predefined unhedged threshold, ensuring precise hedging.
Configuring the Coverage Plugin involves several essential elements, including installing the plugin, defining rules on the Your Bourse portal, creating trading and coverage accounts, and setting up routing rules. Each step plays a vital role in ensuring that the plugin functions optimally.
The Coverage Plugin for MT5 by Your Bourse is a powerful tool that empowers traders with a wide range of functionalities and features to enhance their trading experience.
By understanding its setup process and the various scenarios in which it can be applied, traders can effectively manage risk, map symbols, and customize increments between trading and coverage accounts. The Coverage Plugin offers a versatile solution for traders seeking effective risk management and trading strategies on the MT5 platform.
Your Bourse’s offerings include the MT5 gateway & MT4 bridge, multi-asset liquidity aggregation, risk management, client profiling, real-time and historical reporting, MT4/MT5 hosting in all Equinix data centers with 99.999% SLA, plugins for MT4 & MT5, and FIX API connections for B2B clients.
With a comprehensive suite of tools, Your Bourse empowers brokers to optimize their trading operations and provide enhanced services to their clients.